Krane Funds Advisors LLC Makes New $231,000 Investment in Workday, Inc. (NASDAQ:WDAY)

Krane Funds Advisors LLC bought a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 897 shares of the software maker’s stock, valued at approximately $231,000.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after acquiring an additional 4,517,272 shares in the last quarter. State Street Corp boosted its stake in shares of Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after buying an additional 67,380 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after buying an additional 1,772,223 shares in the last quarter. Clearbridge Investments LLC raised its holdings in Workday by 5.4% in the fourth quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker’s stock valued at $687,237,000 after acquiring an additional 136,211 shares in the last quarter. Finally, Norges Bank acquired a new position in Workday during the 4th quarter worth $645,710,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 71,672 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $25,602,994.26. This represents a 41.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the completion of the transaction, the chief executive officer now directly owns 10,847 shares in the company, valued at approximately $2,544,814.67. This represents a 22.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 370,191 shares of company stock valued at $93,098,347. Company insiders own 20.00% of the company’s stock.

Workday Stock Down 4.9 %

Workday stock opened at $217.14 on Monday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The firm’s fifty day simple moving average is $254.30 and its 200-day simple moving average is $254.12. The company has a market capitalization of $57.76 billion, a P/E ratio of 36.01, a P/E/G ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

WDAY has been the subject of several research analyst reports. Piper Sandler boosted their price objective on Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Mizuho increased their target price on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. KeyCorp upped their target price on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Guggenheim restated a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.18.

About Workday

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.